Finally Getting Up to Speed

Regional bank BB&T has been held back by an adverse regulatory ruling and the end of a short-term accounting benefit. It's ready to roar by these temporary roadblocks.

BB&T has trailed a broad bank-stock rally over the past year, but it looks likely to regain favor with investors in coming quarters. Shares could return more than 30% over the next two years.

The KBW Bank Index has risen 37% in a year, but BB&T (ticker: BBT) shares have increased only one-third as much. One turnoff for investors was a March rebuff by the Federal Reserve Board. Among 18 big banks, BB&T was one of only two to have its capital plan rejected under the Fed's Comprehensive Capital Analysis and...